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Apartment Complex And Apartment Building Purchase Agreements

Purchase Agreements
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PA12113 Purchase Agreement For Large Apartment Complex Where Buyer Assumes Existing Financing

This form is a real estate purchase contract for a large apartment complex, where the buyer assumes the existing financing on the complex and pays the balance of the purchase price in cash. The purchase agreement contemplates a 45 day feasibility period during which the buyer conducts due diligence for the purchase. The seller must furnish detailed property materials for the complex to the purchaser within a specified number of days following the signing of the purchase agreement for evaluation by the buyer.

The purchase agreement provides for the assumption of the existing financing on the apartment complex by the purchaser. Such assumption will require the purchaser to file an application with the lender to assume the existing debt, to pay all applicable fees, and to provide all applicable documentation required by the lender. The purchase contract also requires the existing lender to expressly release the seller following the assumption of the existing loan by the buyer.

Number of Single Spaced Pages: 59

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PA12113

PA12129 All Cash Purchase Agreement For Large Apartment Complex

This form is a real estate purchase contract for a large apartment complex with the buyer paying all cash at closing. All property constituting the apartment complex is included in the sale, including the land, the buildings, and the personal property and intangibles related to the apartments.

Such personal property expressly includes the marketing materials for the apartment property, the construction drawings, all warranties relating to the apartment complex, governmental approvals and permits, and trade names used and belonging to the property. All leases for the complex and the security deposits made pursuant to such leases are assigned to the buyer at the closing.

The buyer has forty five days to conduct its due diligence evaluation of the apartment complex, and has access to the property during that period to perform inspections and tests. The agreement also constitutes joint escrow instructions to the title company and the escrow agent handling the closing.

Number of Single Spaced Pages: 59

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PA12129